Chicago, Sears Holdings Corp. hasn’t even hatched yet, but already the merger of Kmart and Sears has drawn a shareholder lawsuit.
According to the Chicago Tribune, a Sears stockholder contends that the deal benefits Kmart chairman Edward Lampert at the expense of Sears shareholders. The stockholder was identified as William Fischer, who brought suit in Cook County Chancery Court.
The suit seeks class-action status on behalf of all Sears stockholders and asks the court to block the deal from going forward. The merger of the two retail giants is expected to be completed early next year.